Bank of America has increased our current environmental business initiative from $50 billion to $125 billion in low-carbon business by 2025 through lending, investing, capital raising, advisory services and developing financing solutions for clients around the world.
This announcement was highlighted at the White House’s American Business Act on Climate Pledge event in July 2015, which recognized corporations for their support of action to address climate change. The event brought together executives from various industries as they pledged their support of an agreement in advance of the climate change talks in Paris.
The company initiative and commitment focuses on energy efficiency, renewable energy and transportation, in addition to addressing other important areas like water conservation, land use and waste. This expanded second commitment builds on our initial environmental business initiative established in 2007 and fulfilled in 2013, four years ahead of schedule.
“Since making its original environmental business commitment in 2007, Bank of America has consistently been among the leaders in every branch of clean energy finance we track,” said Michael Liebreich, founder and chairman of the Advisory Board, Bloomberg New Energy Finance. “This new commitment means Bank of America is again setting the pace.”
Read the full press release announcing our increased environmental business initiative.
Our commitment to corporate social responsibility
Our environmental initiatives are part of our overall commitment to corporate social responsibility, which is integrated into our policies, practices, services, products, solutions and employee benefits. Learn how we continue working toward our core purpose of making financial lives better for our customers, clients and communities in our annual Corporate Social Responsibility (CSR) report.